Tactacam, a provider of cellular-connected cameras for the outdoor and security markets, has been acquired by private equity firm GTCR from Bertram Capital and the company’s founders.

Terms of the transaction were not disclosed.

Tactacam CEO and Co-Founder Jeff Peel will continue to lead the company and retain significant ownership alongside Co-Founder Ben Thorud, according to an announcement. GTCR plans to work with Peel and Tactacam’s management team on investments in product development and expanded distribution.

The acquisition also adds Tactacam to a GTCR portfolio with established ties to the security industry. Current investments include commercial security systems integrator Everon and SimpliSafe, a provider of residential and small-business security systems.

GTCR’s previous security investments include Protection 1, HSM Electronic Protection Services and Cambridge Protection Industries. The firm has also identified SecurityLink as part of its history of residential security investments.

Trail cameras to security

Founded in 2013 and headquartered in Billings, Montana, Tactacam provides cellular-connected trail and security cameras to more than 1 million subscribers across the United States. The company entered the cellular trail camera market with its Reveal product line in 2020, giving users access to wildlife images through a proprietary mobile app.

Tactacam expanded into the security market in 2024 with the launch of Defend, a line of cellular-connected cameras designed to support residential and commercial property monitoring in locations outside the range of traditional Wi-Fi-enabled products.

“We built Tactacam by staying close to the customer and understanding how they use our products, whether they are watching wildlife or monitoring a property,” Peel said. “Our partnership with GTCR will support continued investment in Reveal and Defend while preserving that focus on the customer value proposition.”

GTCR Managing Director and Head of Business & Consumer Services David Donnini said Tactacam’s combination of connected cameras, software and subscription services aligns with the firm’s experience investing in technology-enabled consumer and commercial subscription businesses.

“Tactacam brings together connected cameras, proprietary software and subscription services in a platform serving more than one million subscribers,” Donnini said. “That combination is a strong fit with our experience investing in technology-enabled consumer and commercial subscription businesses. We look forward to partnering with Jeff and his team to build on Tactacam's business.”

Building on Tactacam’s security expansion

GTCR Managing Director Tom Ehrhart specifically pointed to Tactacam’s expansion beyond the outdoor market and into property monitoring through Defend.

“With Defend, Tactacam has taken the cellular camera platform it built for the outdoor market and applied it to another practical need: monitoring residential and commercial properties beyond the reach of Wi-Fi,” Ehrhart said. “We see an opportunity to build on that expansion through investment in product development and distribution, alongside continued investment in Reveal.”

In addition to its security holdings, GTCR cited former investments GreatCall and Lytx and current portfolio company Consumer Cellular as part of its broader track record in consumer subscription and video-based monitoring businesses.

Founded in 1980, GTCR focuses on investments across business and consumer services, financial services and technology, healthcare and technology, media and telecommunications. The Chicago-based private equity firm manages $45 billion in equity capital and has invested more than $35 billion in more than 300 companies since its inception.